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Finance Act 2022

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  1. Introductory Text

  2. PART 1 Income tax, corporation tax and capital gains tax

    1. Income tax charge, rates etc

      1. 1.Income tax charge for tax year 2022-23

      2. 2.Main rates of income tax for tax year 2022-23

      3. 3.Default and savings rates of income tax for tax year 2022-23

      4. 4.Increase in rates of tax on dividend income

      5. 5.Freezing starting rate limit for savings for tax year 2022-23

    2. Banking surcharge

      1. 6.Rate of surcharge and surcharge allowance

    3. Trading and property income

      1. 7.Abolition of basis periods

      2. 8.Profits of property businesses: late accounting date rules

    4. Pensions

      1. 9.Liability of scheme administrator for annual allowance charge

      2. 10.Increase of normal minimum pension age

      3. 11.Public service pension schemes: rectification of unlawful discrimination

    5. Capital allowances

      1. 12.Extension of temporary increase in annual investment allowance

      2. 13.Structures and buildings allowances: allowance statements

    6. Reliefs for investments

      1. 14.Qualifying asset holding companies

      2. 15.Real Estate Investment Trusts

    7. Creative reliefs

      1. 16.Film tax relief: films produced to be television programmes

      2. 17.Temporary increase in theatre tax credit

      3. 18.Theatrical productions tax relief

      4. 19.Temporary increase in orchestra tax credit

      5. 20.Orchestra tax relief

      6. 21.Temporary increase in museums and galleries exhibition tax credit

      7. 22.Museums and galleries exhibition tax relief

    8. Capital gains tax: disposals of UK land etc

      1. 23.Returns for disposals of UK land etc

    9. International matters

      1. 24.Cross-border group relief

      2. 25.Tonnage tax

      3. 26.Amendments of section 259GB of TIOPA 2010

      4. 27.Application of section 124 of TIOPA 2010 in relation to diverted profits tax

      5. 28.Diverted profits tax: closure notices etc

    10. Changes in accounting standards etc

      1. 29.Insurance contracts: change in accounting standards

      2. 30.Deductions allowance in connection with onerous or impaired leases

    11. Expanded dormant assets

      1. 31.Provision in connection with the Dormant Assets Act 2022

  3. PART 2 Residential property developer tax

    1. Introduction

      1. 32.Introduction

    2. Charge to tax

      1. 33.Charge to RPDT

    3. Key concepts

      1. 34.Meaning of “residential property developer”

      2. 35.Meaning of “residential property development activities”

      3. 36.Residential property development activities: “interest in land”

      4. 37.Residential property development activities: “residential property”

      5. 38.Meaning of “residential property developer profits or losses”

    4. Profits and losses

      1. 39.Adjusted trading profits and losses

      2. 40.Attributable joint venture profits and losses

      3. 41.RPDT reliefs

      4. 42.Restrictions on RPDT reliefs

    5. Allowance

      1. 43.Allowance

      2. 44.Allowance: joint venture companies

    6. Application of corporation tax provisions, management etc

      1. 45.Application of corporation tax provisions and management of RPDT

      2. 46.Requirement to provide information about payments

      3. 47.Non-profit housing companies: exit charge

    7. Miscellaneous

      1. 48.Groups

      2. 49.Miscellaneous provision

      3. 50.Interpretation etc

    8. Commencement and transitional provisions

      1. 51.Commencement

      2. 52.Anti-forestalling: accelerated profits

  4. PART 3 Economic crime (anti-money laundering) levy

    1. 53.Economic crime (anti-money laundering) levy

    2. 54.Charge to the levy

    3. 55.UK revenue: amount

    4. 56.Relevant accounting period

    5. 57.UK revenue: determination

    6. 58.Assessment, payment, collection and recovery

    7. 59.Payments into Consolidated Fund

    8. 60.Application to partnerships

    9. 61.Collection of information

    10. 62.Disclosure of information

    11. 63.Power to make consequential provision

    12. 64.Regulations

    13. 65.Interpretation

    14. 66.Commencement

  5. PART 4 Public interest business protection tax

    1. 67.Public interest business protection tax

  6. PART 5 Other taxes

    1. Stamp duty and stamp duty reserve tax

      1. 68.Securitisation companies and qualifying transformer vehicles

    2. Value added tax

      1. 69.Interim operation of margin schemes for used cars etc: Northern Ireland

      2. 70.Margin schemes and removal or export of goods: VAT-related payments

      3. 71.Margin schemes and removal or export of goods: zero-rating

      4. 72.Relief on the importation of dental prostheses

    3. Insurance premium tax

      1. 73.Identifying where the risk is situated

    4. Import duty

      1. 74.Transitioned trade remedies: decisions by Secretary of State

      2. 75.Reference documents: amount of import duty

    5. Fuel duties

      1. 76.Restriction of use of rebated diesel and biofuels

    6. Tobacco products duty

      1. 77.Rates of tobacco products duty

    7. Vehicle taxes

      1. 78.Rates for light passenger or light goods vehicles, motorcycles etc

      2. 79.Vehicle excise duty: exemption for certain cabotage operations

      3. 80.HGV road user levy: extension of suspension

    8. Gaming duty

      1. 81.Amounts of gross gaming yield charged to gaming duty

    9. Penalties relating to excise duty

      1. 82.Excise duty: penalties

    10. Environmental taxes

      1. 83.Rates of landfill tax

      2. 84.Plastic packaging tax

  7. PART 6 Miscellaneous and final

    1. Avoidance

      1. 85.Winding-up petitions by an officer of Revenue and Customs

      2. 86.Publication by HMRC of information about tax avoidance schemes

      3. 87.Freezing orders: England and Wales

      4. 88.Warrants for diligence on the dependence: Scotland

      5. 89.Freezing injunctions: Northern Ireland

      6. 90.Sections 87, 88 and 89: interpretation etc

      7. 91.Penalties for facilitating avoidance schemes involving non-resident promoters

      8. 92.Electronic sales suppression penalties

      9. 93.Tobacco products: tracing and security

    2. Free zones and freeports

      1. 94.Treatment of goods in free zones

      2. 95.Freeport tax site reliefs: provision about regulations

    3. Uncertain tax treatment

      1. 96.Large businesses: notification of uncertain tax treatment

    4. Discovery assesments etc

      1. 97.Discovery assessments for unassessed income tax or capital gains tax

      2. 98.Notification of liability to income tax and capital gains tax

      3. 99.Calculation of income tax liability for certain charges relating to pensions

    5. Temporary powers in disaster or emergency

      1. 100.Power to make temporary modifications of taxation of employment income

    6. Emissions certificates for vehicles

      1. 101.Vehicle CO2 emissions certificates

    7. ...

      1. 102.Increase in membership of the Office of Tax Simplification

    8. Final

      1. 103.Interpretation

      2. 104.Short title

  8. SCHEDULES

    1. SCHEDULE 1

      Abolition of basis periods

      1. PART 1 Main amendments of ITTOIA 2005

        1. 1.Part 2 of ITTOIA 2005 (trading income) is amended as...

        2. 2.Chapter 2 (income taxed as trade profits)

        3. 3.After section 7 insert— Apportionment etc of profits to tax...

        4. 4.Chapter 3A (trade profits: cash basis)

        5. 5.(1) Section 31B (relevant maximum for purposes of section 31A)...

        6. 6.In section 31C (excluded persons for purposes of section 31A),...

        7. 7.(1) Section 31E (calculation of profits on cash basis) is...

        8. 8.Chapter 15 (basis periods)

      2. PART 2 Other amendments of ITTOIA 2005

        1. 9.ITTOIA 2005 is amended as follows.

        2. 10.Part 2 (trading income)

        3. 11.In section 47 (business gifts: exceptions), in subsection (3)(b), for...

        4. 12.In section 133 (meaning of “relevant period” for purposes of...

        5. 13.(1) Section 154A (certain non-UK residents with interest on 3.5%...

        6. 14.(1) Section 225ZD (compensation for compulsory slaughter of animals: effect...

        7. 15.In section 240B (“entering the cash basis”), in paragraph (b),...

        8. 16.In section 240C (unrelieved qualifying expenditure: Parts 2, 7 and...

        9. 17.In section 240D (assets not fully paid for), in subsection...

        10. 18.In section 240E (effect of election where predecessor and successor...

        11. 19.In section 246 (basic meaning of “post-cessation receipt”), in subsection...

        12. 20.Part 5 (miscellaneous income)

        13. 21.Part 6A (income charged under ITTOIA 2005: trading and property allowances)

        14. 22.Part 7 (rent-a-room and qualifying care relief)

        15. 23.(1) Section 805 (meaning of “qualifying care receipts”) is amended...

        16. 24.Omit section 828 (overlap profit).

        17. 25.Part 9 (partnerships)

        18. 26.In section 857 (partners to whom the remittance basis applies),...

        19. 27.In section 860 (adjustment income), in subsection (7), for “856”...

        20. 28.Part 10 (general provisions)

        21. 29.Schedule (abbreviations and defined expressions)

      3. PART 3 Amendments of other Acts

        1. 30.Taxes Management Act 1970

        2. 31.In section 8 (personal return), in subsection (1C), omit “or...

        3. 32.In Schedule A1 (as inserted by section 60(3) of F(No.2)A...

        4. 33.Capital Allowances Act 2001

        5. 34.(1) Section 59 (unrelieved qualifying expenditure) is amended as follows....

        6. 35.In section 419A (unrelieved qualifying expenditure: entry to cash basis),...

        7. 36.In section 461A (unrelieved qualifying expenditure: entry to cash basis),...

        8. 37.In section 475A (unrelieved qualifying expenditure: entry to cash basis),...

        9. 38.Income Tax Act 2007

        10. 39.In section 24A (limit on Step 2 deductions), omit subsection...

        11. 40.In section 60 (overview of Chapter), in subsection (3), omit...

        12. 41.Omit sections 61 and 62 (losses of a tax year...

        13. 42.(1) Section 66 (restriction on relief unless trade is commercial)...

        14. 43.(1) Section 70 (determining losses in previous tax years) is...

        15. 44.In section 74 (restrictions on relief unless trade is commercial...

        16. 45.(1) Section 74C (meaning of “non-active capacity” for purposes of...

        17. 46.(1) Section 75 (trade leasing allowances given to individuals) is...

        18. 47.In section 83 (carry forward against subsequent trade profits), in...

        19. 48.(1) Section 90 (losses that are “terminal losses”) is amended...

        20. 49.(1) Section 103B (meaning of “non-active partner” etc) is amended...

        21. 50.In section 104 (restriction on reliefs for limited partners), in...

        22. 51.In section 107 (restriction on reliefs for members of LLPs),...

        23. 52.In section 110 (restriction on reliefs for non-active partners in...

        24. 53.In section 113 (unrelieved losses brought forward), in subsection (7),...

        25. 54.(1) Section 525 (meaning of “charitable trade”) is amended as...

        26. 55.In section 528 (condition as to trading and miscellaneous incoming...

        27. 56.In section 544 (section 543: supplementary), omit subsection (4).

        28. 57.In section 681AD (relevant income tax relief: deduction not to...

        29. 58.In section 681CC (tax deduction not to exceed commercial rent),...

        30. 59.(1) Section 795 (meaning of “post-1 December 2004 loss”) is...

        31. 60.Taxation (International and Other Provisions) Act 2010

      4. PART 4 Commencement

        1. 61.(1) Subject to sub-paragraph (3), the amendments made by Parts...

      5. PART 5 Transitional provision: new trades etc

        1. 62.Application of this Part of this Schedule

        2. 63.Basis period for the tax year 2023-24

      6. PART 6 Transitional provision: continuing trades etc

        1. 64.Application of this Part of this Schedule

        2. 65.Basis period for tax year 2023-24

        3. 66.Relevant maximum for purposes of cash basis election

        4. 67.Late accounting date rules

        5. 68.Deductions for overlap profit allowed under this Part of this Schedule

        6. 69.Trade profits if there is no transition part of the basis period for the tax year 2023-24

        7. 70.Trade profits if there is a transition part of the basis period for the tax year 2023-24

        8. 71.Treatment of losses arising from deduction for overlap profit

        9. 72.Spreading of transition profits

        10. 73.Election to accelerate charge

        11. 74.Transition profits ignored in averaging of profits of farmers and creative artists

        12. 75.Calculation of income tax liability on amount of transition profits

        13. 76.Other modifications

      7. PART 7 Transitional provision: notional businesses

        1. 77.Application of this Part of this Schedule

        2. 78.Basis period for tax year 2023-24

        3. 79.Deductions for overlap profit allowed under this Part of this Schedule

        4. 80.Deducted overlap profits in excess of other profits of tax year 2023-24

    2. SCHEDULE 2

      Qualifying asset holding companies

      1. PART 1 Introduction and conditions for being a QAHC

        1. 1.Introduction

        2. 2.Conditions for being a qualifying asset holding company

        3. 3.Ownership condition

        4. 4.Only direct and certain indirect interests to constitute “relevant interests”

        5. 5.Determining relevant interests

        6. 6.Determining relevant interests: transparent entities

        7. 7.References to voting power

        8. 8.Category A investors

        9. 9.Qualifying funds

        10. 10.Relevant qualifying investors

        11. 11.Intermediate company

        12. 12.Requirement of QAHC to monitor compliance with ownership condition

        13. 13.Activity condition and investment strategy condition

      2. PART 2 Becoming a QAHC

        1. 14.Entry notification

        2. 15.Entry into regime

        3. 16.Ownership condition treated as met for initial period

        4. 17.Corporation tax consequences of becoming a QAHC

        5. 18.Application of paragraph 17(2) to formerly non-resident companies

        6. 19.Adjustment of gains to avoid double charge

        7. 20.Ring fencing of QAHC business

        8. 21.Disapplication of Part 7ZA of CTA 2010

        9. 22.Assets entering and leaving the ring fence

        10. 23.Adjustment of gains to avoid double charge on assets crossing the ringfence

        11. 24.Information to be provided for accounting periods

      3. PART 3 Ceasing to be a QAHC

        1. 25.Exit notification

        2. 26.Requirement to notify when conditions no longer met

        3. 27.Curing of certain breaches

        4. 28.Wind-down period

        5. 29.Exiting the regime

        6. 30.Timings of transactions that lead to breach of ownership condition

        7. 31.Corporation tax consequences of ceasing to be a QAHC

        8. 32.Certain interest payments made around exit to be treated as made by a QAHC

      4. PART 4 Groups

        1. 33.Acquisition of assets into and out of QAHC ring fence business from other member of group

        2. 34.Continuity of substantial shareholdings between group members

        3. 35....

        4. 36.Gain or loss arising where section 179 of TCGA 1992 applies in relation to transfer of assets

      5. PART 5 Close companies, exchange gains and basis of accounting

        1. 37.Non-close QAHCs treated as close companies for certain purposes

        2. 38.Exchange gains

        3. 39.Amortised cost basis not required for certain connected companies relationships

      6. PART 6 Transfer pricing and corporate interest restriction rules

        1. 40.Transfer pricing: participation condition always met for investors in a QAHC etc

        2. 41.Transfer pricing: no small and medium-sized enterprise exemption

        3. 42.Application of corporate interest restriction rules (non-consolidation of certain subsidiaries)

        4. 43.Application of corporate interest restriction rules (consolidation of QAHC stacks)

      7. PART 7 Treatment of certain amounts payable by a QAHC

        1. 44.Treatment of certain distributions

        2. 45.Application of hybrid and other mismatches rules where paragraph 44 applies

        3. 46.Payments of distributions etc to individual to whom the remittance basis applies

        4. 47.Purchase of own shares

        5. 48.Disapplication of paragraph 47 during cure period for certain non-category A investors

        6. 49.Transactions in securities rules

        7. 50.Late interest

        8. 51.Deeply discounted securities

      8. PART 8 Overseas property income

        1. 52.Overseas property income of a QAHC

      9. PART 9 Disposals of overseas land and certain shares

        1. 53.No chargeable gain on disposal of overseas land or certain shares

      10. PART 10 Stamp duty and stamp duty reserve tax

        1. 54.Stamp duty and SDRT exemption for repurchase of own shares or loan capital

      11. PART 11 Exemption from section 874 of ITA 2007 (withholding tax)

        1. 55.In Part 15 of ITA 2007 (deduction of income tax...

      12. PART 12 Supplementary

        1. 56.Minor and consequential amendments

        2. 57.Making of notifications and returns

        3. 58.Interpretation

        4. 59.Alternative finance arrangements

    3. SCHEDULE 3

      Real Estate Investment Trusts

      1. 1.The amendments made by this Schedule are to Part 12...

      2. 2.Conditions for companies in relation to UK REITs

      3. 3.Requirements for financial statements

      4. 4.Balance of business test

      5. 5.Holders of excessive rights

      6. 6.Application and commencement

    4. SCHEDULE 4

      Cross-border group relief

      1. PART 1 Consequential amendments

        1. 1.CTA 2010

        2. 2.FA 2013

        3. 3.Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689)

      2. PART 2 Commencement

        1. 4.(1) The amendments made by section 24(3) and paragraph 1...

        2. 5.(1) The amendments made by section 24(2) and paragraph 2...

        3. 6.(1) The amendments made by section 24(4), and section 24(5)...

        4. 7.In this Part— “claimant company” has the meaning given by...

    5. SCHEDULE 5

      Insurance contracts: change in accounting standards

      1. PART 1 Power to make provision in connection with IFRS 17

        1. 1.(1) The Treasury may by regulations make such provision as...

      2. PART 2 Amendments in connection with IFRS 17

        1. 2.In FA 2012 omit section 79 (spreading of acquisition expenses)....

        2. 3.(1) In consequence of the amendment made by paragraph 2...

        3. 4.This Part comes into force on such day as the...

        4. 5.The Treasury may by regulations make transitional, transitory or saving...

        5. 6.Regulations under paragraph 5 may make different provision for different...

    6. SCHEDULE 6

      Dormant assets

      1. 1.Amendment to TCGA 1992

      2. 2.Amendment to FA 2008

      3. 3.Amendments to the Income Tax (Deposit-takers and Building Societies) (Interest Payments) Regulations 2008 (S.I. 2008/2682)

      4. 4.Exemption for reclaim amounts in respect of individual investment plans

      5. 5.Power to make provision for the purposes of the Income Tax Acts and TCGA 1992 in relation to dormant assets

      6. 6.Commencement

    7. SCHEDULE 7

      RPDT reliefs

      1. PART 1 RPDT loss relief

        1. 1.Introduction

        2. 2.Carry forward of a trading loss to next accounting period

        3. 3.Carry forward of trading losses to subsequent accounting periods

      2. PART 2 RPDT group relief

        1. 4.Introduction

        2. 5.In this Part of this Schedule, in relation to an...

        3. 6.In this Part of this Schedule, “company” means any body...

        4. 7.Surrender of company’s losses for an accounting period

        5. 8.Claims for RPDT group relief

        6. 9.Giving of RPDT group relief

        7. 10.Limitation on amount of RPDT group relief to be given

        8. 11.Arrangements for transfer of companies

      3. PART 3 RPDT group relief for carried-forward losses

        1. 12.Introduction

        2. 13.In this Part of this Schedule, in relation to losses...

        3. 14.In this Part of this Schedule, “company” means any body...

        4. 15.Surrender of company’s carried-forward losses for an accounting period

        5. 16.Claims for RPDT group relief for carried-forward losses

        6. 17.Giving of RPDT group relief for carried-forward losses

        7. 18.Limitation on amount of group relief for carried-forward losses to be given

      4. PART 4 Supplementary provision

        1. 19.Payments for relief

        2. 20.Change in company ownership

        3. 21.Meaning of “relief group”

        4. 22.Meaning of “adjusted trading loss”

    8. SCHEDULE 8

      Management of RPDT

      1. 1.Amendments of TMA 1970

      2. 2.Amendments of FA 1998

    9. SCHEDULE 9

      Miscellaneous provision

      1. 1.Residential property developer tax to be ignored for corporation tax purposes

      2. 2.Payments made for RPDT reliefs to be ignored for corporation tax purposes

      3. 3.Provision made or imposed between RPD activities and other activities of the same company

      4. 4.Provision made or imposed between an RP developer and another person under the same control

    10. SCHEDULE 10

      Public interest business protection tax

      1. PART 1 Charge

        1. 1.Charge on value of assets held for qualifying purposes

        2. 2.Meaning of “public interest business” and “special measures”

        3. 3.Adjusted value of assets

      2. PART 2 Joint and several liability

        1. 4.Liability of associated companies

        2. 5.Joint and several liability of connected persons and others who may benefit

        3. 6.Qualifying interests in company, partnership or unincorporated association

        4. 7.Claim for relief

      3. PART 3 Administration

        1. 8.Requirement to file return and pay tax chargeable under paragraph 1

        2. 9.Notice to file return in respect of joint and several liability under paragraph 4 or 5

        3. 10.Time limits in relation to assessment under paragraph 9

        4. 11.Amendments and corrections of return

        5. 12.HMRC to determine tax where no return made in time

        6. 13.Enquiry into return

        7. 14.Completion of enquiry

        8. 15.Amendment of return by taxpayer during enquiry

        9. 16.Amendment of return during enquiry by HMRC to prevent loss of tax

        10. 17.Date by which payment to be made after amendment or correction of self-assessment

        11. 18.Discovery assessment

        12. 19.Assessment procedure

        13. 20.Time limits for assessments

        14. 21.Appeals

        15. 22.Duty to preserve records

        16. 23.Collection and recovery

        17. 24.Overpaid tax

        18. 25.Claims under this Schedule

        19. 26.Penalty for failure to submit return

        20. 27.Penalties for errors

        21. 28.Failure to pay public interest business protection tax on time

        22. 29.Interest

        23. 30.Application of information, inspection and data-gathering powers

        24. 31.Documents

        25. 32.Disclosures to persons who are joint and severally liable to tax

        26. 33.Application of public interest business protection tax to partnerships and trusts

        27. 34.Territorial application of tax

        28. 35.Power to provide for reliefs etc

      4. PART 4 Supplementary

        1. 36.Anti-avoidance

        2. 37.No deduction for public interest business protection tax

        3. 38.Information sharing

        4. 39.Application of the Provisional Collection of Taxes Act 1968

        5. 40.Power to apply, disapply or modify provisions of relevant tax legislation

        6. 41.Regulations

        7. 42.Interpretation of Schedule

        8. 43.Commencement and expiry

    11. SCHEDULE 11

      Restriction of use of rebated diesel and biofuels

      1. PART 1 Amendments to HODA 1979

        1. 1.HODA 1979 is amended as follows.

        2. 2.In section 12 (rebate not allowed on fuel for road...

        3. 3.In section 13 (penalties for contravention of section 12)—

        4. 4.In section 14E as it extends to Northern Ireland (restrictions...

        5. 5.In section 14F as it extends to England and Wales...

        6. 6.In section 24 (control of use of duty-free and rebated...

        7. 7.In section 24A (penalties for misuse of marked oil)—

        8. 8.In section 27 (interpretation), in subsection (1B)—

        9. 9.In Schedule 1A (excepted machines) (as inserted by paragraph 22...

      2. PART 2 Amendments to FA 2021

        1. 10.The following provisions of Schedule 21 to FA 2021 (restriction...

    12. SCHEDULE 12

      Plastic packaging tax

      1. 1.Part 2 of FA 2021 (plastic packaging tax) is amended...

      2. 2.No charge for persons below de minimis

      3. 3.Time of importation

      4. 4.Reliefs for persons enjoying certain immunities and privileges

      5. 5.Records

      6. 6.Groups

      7. 7.Secondary liability and assessment notices etc: acting in the course of a related business

    13. SCHEDULE 13

      Penalties for facilitating avoidance schemes involving non-resident promoters

      1. 1.Liability to penalty

      2. 2.Amount of penalty

      3. 3.Procedure for assessing penalty etc

      4. 4.Appeals

      5. 5.Application of provisions of TMA 1970

      6. 6.Application of information and inspection powers

      7. 7.Application

      8. 8.Interpretation

    14. SCHEDULE 14

      Electronic sales suppression

      1. PART 1 Introductory

        1. 1.Meaning of “electronic sales suppression tool” etc

      2. PART 2 Liability to a penalty

        1. 2.Penalty for making an electronic sales suppression tool

        2. 3.Penalty for supplying an electronic sales suppression tool

        3. 4.Penalty for promoting use of a tool to suppress an electronic sales record

        4. 5.Amount of a penalty under paragraph 2, 3 or 4

        5. 6.Penalty for possession etc of an electronic sales suppression tool

        6. 7.Daily default penalties

      3. PART 3 Supplementary provision

        1. 8.Legitimate activity

        2. 9.Double jeopardy

        3. 10.Special reduction

        4. 11.Assessment

        5. 12.Appeal

        6. 13.Enforcement

        7. 14.Application of provisions of TMA 1970

        8. 15.Power to change amount of penalty

        9. 16.Interpretation

      4. PART 4 Information

        1. 17.Application of Schedule 36 to FA 2008 (information and inspection powers)

        2. 18.General modifications of Schedule 36 to FA 2008 as applied

        3. 19.Specific modifications of Schedule 36 to FA 2008 as applied

    15. SCHEDULE 15

      Treatment of goods in free zones

      1. 1.VATA 1994 is amended as follows.

      2. 2.In section 6(1) (time of supply), for “and 18C” substitute...

      3. 3.In section 7(1) (place of supply of goods), for “and...

      4. 4.In section 7A(1) (place of supply of services), after “applies”...

      5. 5.In section 17 (free zone regulations) omit subsection (2).

      6. 6.In section 18 (goods subject to a warehousing regime: place...

      7. 7.At the end of Part 3 (application of VATA 1994...

      8. 8.This Schedule is treated as having come into force on...

    16. SCHEDULE 16

      Freeport tax site reliefs: provision about regulations

      1. PART 1 First-year allowance for plant and machinery

        1. 1.Part 2 of CAA 2001 (plant and machinery allowances) is...

        2. 2.In section 45O (expenditure on plant and machinery for use...

        3. 3.(1) Section 45R (effect of plant or machinery subsequently being...

        4. 4.(1) Section 570B of CAA 2001 (orders and regulations made...

      2. PART 2 Structures and buildings allowances

        1. 5.(1) Section 270BNC of CAA 2001 (structures and buildings allowances:...

      3. PART 3 Stamp duty land tax

        1. 6.(1) In Schedule 6C to FA 2003 (stamp duty land...

    17. SCHEDULE 17

      Large businesses: notification of uncertain tax treatment

      1. PART 1 Key definitions

        1. 1.This Part applies for the purposes of this Schedule.

        2. 2.“Company” and “qualifying company”

        3. 3.“Group”

        4. 4.“Partnership” and “qualifying partnership”

        5. 5.“Relevant tax” and “relevant return”

        6. 6.“Financial year”

        7. 7.“Turnover” and “balance sheet total”

      2. PART 2 Requirement to notify HMRC of uncertain tax treatment

        1. 8.Requirement to notify

        2. 9.Deadline for notification

        3. 10.Uncertain tax treatment

        4. 11.Threshold test

        5. 12.“Tax advantage” in relation to income tax or corporation tax

        6. 13.“Tax advantage” in relation to VAT

        7. 14.Value of a tax advantage

        8. 15.The “expected amount”

        9. 16.Relevant period

        10. 17.Related amounts

        11. 18.General exemption

        12. 19.Exemption for certain group transactions

      3. PART 3 Penalties

        1. 20.Penalty for non-compliance with paragraph 8

        2. 21.First, second and further failures

        3. 22.Reasonable excuse

        4. 23.Assessment of penalties

        5. 24.Appeal

        6. 25.Enforcement

        7. 26.Power to change amount of penalty

        8. 27.“Tribunal”

      4. PART 4 Supplementary

        1. 28.Regulations

        2. 29.Application of provisions of TMA 1970

        3. 30.Interpretation

      5. PART 5 Consequential Amendments

        1. 31.In Schedule 14 to F(No.2)A 2017 (digital reporting and record-keeping...

        2. 32.The reference in section 61(6) of F(No.2)A 2017 (commencement) to...

      6. PART 6 Commencement

        1. 33.This Schedule applies in relation to relevant returns that are...

    18. SCHEDULE 18

      Vehicle CO2 emissions certificates

      1. PART 1 Amendments of CAA 2001

        1. 1.(1) Section 268C of CAA 2001 (terms relating to emissions)...

      2. PART 2 Amendments of ITEPA 2003

        1. 2.Chapter 6 of Part 3 of ITEPA 2003 (taxable benefits:...

        2. 3.In section 134(1) (meaning of car with a CO2 emissions...

        3. 4.(1) In section 136 (car with a CO2 emissions figure:...

        4. 5.(1) In section 137 (car with a CO2 emissions figure:...

        5. 6.(1) Section 171(1) (minor definitions: general) is amended as follows....

        6. 7.In the Income Tax (Pay As You Earn) Regulations 2003...

      3. PART 3 Amendments of VERA 1994

        1. 8.(1) In Part 1A of Schedule 1 to VERA 1994...

      4. PART 4 Power to make consequential provision

        1. 9.(1) The Treasury may by regulations made by statutory instrument...

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